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Strong looking October new home sales and durable goods orders data are misleading
Home sales and prices have further to fall and the trend in core capex orders has slowed markedly.
The upturn in jobless claims is a better guide to what’s really happening; the economy is softening.
capex, core capex orders, durable goods, economy, home sales, jobless claims, new home sales, October, orders, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence